Every industry has its rules. To do well, you need to understand the industry, have execution ability, and keep the following in mind to avoid unnecessary detours!
Three Iron Rules of Cryptocurrency Trading
1. Refuse to chase highs: Stay calm when others are frantically buying; seize the opportunity to buy low during market panic and avoid catching the top.
2. Flexible operations: The cryptocurrency market changes quickly; avoid heavy bets and leave room for adjustments, as opportunities are often present.
3. Diversify positions: Being fully invested carries great risk; spreading investments is responsible for wealth.
Four Key Profit Techniques
1. Wait and observe: Be patient when the coin price is stagnant; hasty operations can lead to losses.
2. Focus on key ranges: When the coin price consolidates at high or low levels for an extended period, it often signals a significant trend; don’t rush to act.
3. Pyramid-style positioning: Enter the market in batches, gradually increase your investment, diversify risks, and maintain a stable mindset.
4. Adapt to price fluctuations: Avoid heavy buying during a surge and don't blindly catch falling knives; do not let emotions dictate your actions.
Four Key Points for Rolling Positions
1. Enter in batches: Don’t invest all at once; prevent being trapped if the market reverses and leave room for operations during fluctuations.
2. Add positions at the right time: Use profits to add to your positions; avoid chasing highs and cutting losses.
3. Control positions and reserve funds: Don’t be fully invested; keep funds available to cope with sudden market changes.
4. Maintain patience: Rolling positions is a long-term process; patiently wait for the right opportunity to steadily profit.
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